Mr. Reid, the new Premier of New South Wales, speaking
in Sydney on Wednesday, laid down the policy of the new Government. This includes the entire recasting of the -financial system of the Colony, and comprises a sweeping "reduction in the Customs-duties. The extension of Local 'Government throughout the Colony is to be pressed forward, and in order to supply the necessary funds, grants will be made by the Central Government. What Mr. Reid had to say on the question of Federation was hopeful. He promised to enter into immediate communication with the sister- 'Colonies, in order to ascertain their views as to the method of further procedure. The new Government warmly welcomed the overtures made by some other Colonies in favour of inter- 'colonial Free-trade. The new fiscal system will, if the • Government stands, come into operation next July. If New -.South Wales should lead the way, both to Free-trade and the 'foundation of the Australian Commonwealth, she will indeed -deserve well of the Empire.
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